Business
Forex: CBN injects $210m into inter-bank market
In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) on Tuesday, January 29, 2019, injected another sum of $210 million into the inter-bank foreign exchange market. Figures released by the CBN on Tuesday indicated that authorised dealers in the wholesale segment of the market received the sum of $100million, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated the sum of $55 million each.
The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, confirmed the figures and restated the Bank’s resolve to always meet the request of genuine customers in the various segments of the market. It will be recalled that on Friday, January 25, 2019, the Bank injected a total sum of $289.76million into retail Secondary Market Intervention Sales (SMIS) and CNY38.70million in the spot and short-tenored forwards of the inter-bank foreign exchange market.
Meanwhile, the naira on Tuesday, January 29, 2019 continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market.
-
Oil and Gas1 day agoNUPRC vows not to approve divestments that doesn’t meet considerations
-
Oil and Gas1 day agoIran eases Strait of Hormuz transit rules amid oil shock
-
Finance1 day agoCardoso seeks collaboration to check cross‑border financial risks
-
Oil and Gas1 day agoCourt orders forfeiture of $13m linked to Aisha Achimugu’s firm
-
Oil and Gas1 day agoOil falls as reports of 15-point proposal spurs ceasefire hopes
-
Economy1 day agoNigeria to launch trade platform at ports as part of reform push
-
Finance1 day agoCourt nullifies CBN’s regulatory intervention in Union Bank in 2024, rules it acted beyond its powers